Wondering how much cash you will actually need on closing day in St. Augustine? You are not alone. Closing costs can feel confusing because they include lender fees, title charges, Florida taxes, insurance prepaids, and HOA items that vary by community. In this guide, you will see what typical buyers in St. Johns County pay, how Florida’s taxes are calculated, and how to estimate your cash to close with clear, local examples. Let’s dive in.
What closing costs cover in St. Augustine
Closing costs are separate from your down payment. They include a mix of fees, taxes, and prepaids tied to your mortgage, title work, and homeownership setup.
Lender fees
- Origination, discount points, underwriting, and processing
- Credit report, appraisal, flood certification, and any rate lock fee
- Lender-required escrow setup for taxes and insurance
Title and settlement
- Title search and commitment
- Closing or settlement fee
- Title insurance policies (lender’s required; owner’s optional but common)
- Miscellaneous items such as endorsements, courier, and wire fees
Government taxes and recording
- Florida documentary stamp taxes on the deed and, when applicable, on the mortgage or note
- Florida intangible tax on new mortgages
- St. Johns County recording and indexing fees
Prepaids and escrow deposits
- First-year homeowner’s insurance premium
- Prorated property taxes to align buyer and seller shares
- Prepaid interest from closing date to month-end
- Initial escrow deposit for taxes and insurance
Inspections, surveys, and HOA fees
- General home inspection and WDO/termite inspection
- Property survey and any specialty inspections
- HOA estoppel and transfer fees, plus prorated dues when applicable
Florida and St. Johns County taxes and fees
Here are the Florida-specific items you will most likely see on a St. Johns County purchase:
- Documentary stamp tax on deeds: calculated at $0.70 per $100 of the purchase price (0.007 multiplied by the sale price).
- Documentary stamp tax on mortgages/notes: commonly $0.35 per $100 of the loan amount (0.0035 multiplied by the loan amount).
- Intangible tax on new mortgages: equal to 0.20% of the mortgage principal (0.002 multiplied by the loan amount).
- Recording fees: set by the St. Johns County Clerk of Court and vary by document type and page count.
Title insurance premiums in Florida are set by filed rate tables and tied to the insured amount. A lender’s title policy is required when you finance, and an owner’s policy is optional but common. In our local market, closings are typically handled by title companies acting as settlement agents.
If you are purchasing in a master-planned community like Palencia, expect HOA estoppel and transfer fees and prorated dues. Because of coastal exposure, homeowner’s insurance premiums can be higher than the national average and may include windstorm provisions.
Typical amounts buyers see
Every transaction is unique, but these ranges are common in St. Augustine and across St. Johns County:
- Lender origination fee: 0 to 1% of the loan amount
- Discount points: optional; 1 point equals 1% of the loan amount
- Appraisal: $450 to $900
- Credit report: $15 to $60
- Underwriting/processing: $300 to $1,000 combined
- Title search/commitment: $150 to $500
- Closing/settlement fee: $250 to $700
- Lender’s title policy: often 0.25% to 0.6% of the loan amount; owner’s policy similar scale based on price
- Title endorsements/courier/wire: $25 to $200
- Florida doc stamp on deed: 0.007 × purchase price
- Florida doc stamp on mortgage: 0.0035 × loan amount
- Florida intangible tax: 0.002 × loan amount
- Recording fees: typically in the hundreds total, depending on pages/documents
- Homeowner’s insurance (first-year premium): commonly $1,500 to $4,000+ in coastal areas
- Initial escrow deposit: often 2 months of taxes plus 2 months of insurance
- Prepaid interest: depends on closing date and rate
- Home inspection: $300 to $600
- WDO/termite inspection: $75 to $200
- Survey: $300 to $900
- HOA estoppel/transfer: roughly $100 to $500
How to estimate cash to close
Use this quick formula to size up your cash to close:
- Down payment (purchase price × down payment percent)
- Plus closing costs not financed (lender, title, government fees)
- Plus prepaids (insurance, prorated taxes, prepaid interest)
- Plus initial escrow deposit (taxes and insurance)
- Minus any seller credits or lender credits
- Equals your cash to close
Scenario A: Conventional, 20% down in Palencia
Assumptions for illustration:
- Purchase price: $450,000
- Down payment: 20% = $90,000
- Loan amount: $360,000
- Property taxes: about 1.0% of price annually ($4,500)
- Homeowner’s insurance: $2,400/year
Estimated closing costs and prepaids:
- Lender origination (1%): $3,600
- Appraisal: $650
- Credit/processing: $300
- Title and closing fee: $1,500
- Lender’s title policy (0.5%): $1,800
- Florida deed doc stamp: 0.007 × $450,000 = $3,150
- Florida mortgage doc stamp: 0.0035 × $360,000 = $1,260
- Florida intangible tax: 0.002 × $360,000 = $720
- First-year insurance premium: $2,400
- Prorated property taxes (midyear example): $2,250
- Initial escrow deposit: 2 months taxes ($750) + 2 months insurance ($400) = $1,150
- Prepaid interest (estimate): $500
Subtotal closing costs, prepaids, and escrow: about $18,480
Total cash to close: $90,000 down payment + $18,480 = about $108,480, minus any seller or lender credits.
Scenario B: Conventional, 5% down with financing of some costs
Assumptions for illustration:
- Purchase price: $450,000
- Down payment: 5% = $22,500
- Loan amount: $427,500
- Same tax and insurance assumptions as above
Estimated closing costs and prepaids:
- Lender origination (1%): $4,275
- Appraisal: $650
- Credit/processing: $300
- Title and closing fee: $1,500
- Lender’s title policy (0.5%): $2,138
- Florida deed doc stamp: $3,150
- Florida mortgage doc stamp: 0.0035 × $427,500 = $1,496
- Florida intangible tax: 0.002 × $427,500 = $855
- First-year insurance premium: $2,400
- Prorated property taxes (midyear example): $2,250
- Initial escrow deposit: $1,150
- Prepaid interest (estimate): $600
Subtotal closing costs, prepaids, and escrow: about $20,754
Total cash to close: $22,500 down payment + $20,754 = about $43,254, minus any seller or lender credits. With less than 20% down, monthly PMI usually applies and affects your payment rather than cash at closing.
Ways to lower your cash to close
- Negotiate seller credits. Many buyers ask for a seller contribution to closing costs. Your loan type may cap how much the seller can contribute.
- Consider lender credits. You can often trade a slightly higher interest rate for a lender credit that offsets some closing costs.
- Compare insurance quotes early. Coastal premiums vary by carrier and mitigation features. Getting quotes early helps you budget and sometimes reduce prepaids.
- Time your closing carefully. Closing late in the month reduces prepaid interest. Closing earlier can change prorations and escrow needs.
- Explore down payment assistance. Eligible first-time or qualifying buyers can look into statewide or local programs that may reduce cash to close.
Timeline and documents to expect
- Loan Estimate within 3 business days of application. This outlines your projected closing costs and cash to close.
- Closing Disclosure at least 3 business days before you sign. This is your final, itemized breakdown of every fee, tax, and prepaid.
- Title commitment and insurance binder. These confirm title coverage and your homeowner’s insurance details.
- HOA estoppel and transfer details. These verify dues, fees, and any outstanding balances.
Quick checklist before you close
- Get written quotes: lender fees, title fees, and insurance premiums
- Confirm Florida doc stamps and intangible tax with the title or closing agent using your exact price and loan amount
- Ask for an estimate of county recording charges based on document count and pages
- Verify HOA estoppel and transfer fees and the timeline for HOA documents
- Review the Closing Disclosure line by line and ask questions early
- Arrange final funds by wire per verified instructions and confirm deadlines
Get local, hands-on guidance
Closing costs in St. Augustine are predictable when you break them into parts and use Florida’s standard tax formulas. The right advisor will help you compare quotes, spot savings, and align your closing date and escrow setup with your budget. If you want a clear, St. Johns County–specific estimate and a plan to reduce your cash to close, connect with Laura Worrell for a personalized walkthrough.
FAQs
How much are buyer closing costs in St. Augustine?
- Many buyers see total closing costs, prepaids, and escrows equal to roughly 2% to 4% of the purchase price, not including the down payment; your loan type, insurance, and taxes will drive the final number.
Who pays Florida documentary stamp tax on the deed in St. Johns County?
- The deed doc stamp is tied to the sale price at 0.70 per $100; payment is determined by contract and local custom, so confirm with your title or closing agent.
What are Florida mortgage taxes for St. Augustine loans?
- New mortgages typically include a 0.35 per $100 documentary stamp on the loan amount plus a 0.20% intangible tax; both are calculated on your final loan amount.
Are property taxes and insurance prepaid at closing in Florida?
- Yes. You usually pay the full first-year homeowner’s insurance and fund an initial escrow deposit for taxes and insurance, plus prepaid interest from closing to month-end.
Do Palencia homes have HOA estoppel or transfer fees?
- HOAs are common in Palencia and often charge estoppel and transfer fees, typically in the low hundreds of dollars; confirm amounts with the HOA manager.
Can seller credits cover all of my closing costs?
- Seller credits can offset many costs, but your loan program sets limits on the percentage a seller can contribute; your lender will outline the cap for your situation.
